..., L. 1975 . Introduction to Max Weber,“Marginal Utility Theory and `the Fundamental Law of Psychophysics,'” by Max Weber. Social Science Quarterly 56 : 21 -24. Schumpeter, J. 1956 . Ten Great Economists . London: Allen and Unwin. ____. 1991 . The Economics and Sociology of Capitalism...

...Ivan Moscati This article argues that the canonical dichotomy between cardinal utility and ordinal utility is inadequate to tell an accurate history of utility theory, and that a third form of utility consistent with the so-called classical understanding of measurement should be added...

... . 1930 . Är gränsnytteläran onödig? [Is the marginal utility theory unnecessary?]. Ekonomisk Tidskrift 32 . 3 : 117 -22. Cassel , Gustav . 1902 . Der Ausgangspunkt der theoretischen Ökonomie. Zeitschrift für die gesammte Staatswissenschaft 58 . 4 : 668 -98. Cassel , Gustav...

... economics?’ Journal of Economic Literature 23 ( June ): 507 -30. Čuhel , Franz 1907 . Zur Lehre von den Bedürfnissen . Innsbruck. Debreu , Gerard 1959 . Theory of value . New York. Ellsberg , Daniel 1954 . ‘Classic and current notions of “Measurable utility.”’ Economic...

...George J. Stigler Copyright © 1972 by Duke University Press 1972 GEORGE J. STIGLER is Charles R. Walgreen Distinguished Professor of American Institutions at the University of Chicago. The Adoption of the Marginal Utility Theory...

...Laurence S. Moss Copyright © 1973 by Duke University Press 1973 Isaac Butt and the Early Development of the Marginal Utility Theory of Imputation Laurence S...

... . The Foundations of a Mathematical Theory of Exchange. Economica 12 : 197 -226. Allen, R.G. D. 1933 . On the Marginal Utility of Money and Its Applications. Economica 13 : 186 -209. ____. 1934a . A Comparison between Different Definitions of Complementary and Competitive Goods. Econometrica 2 : 168...

... . “ Accumulation Programs of Maximum Utility and the von Neumann Facet .” In Value, Capital, and Growth: Essays in Honor of Sir John Hicks , edited by Wolfe J. N. , 353 – 83 . Edinburgh : Edinburgh University Press . Meade James . 1961 . A Neo-Classical Theory of Economic Growth...

...Marco Dardi This article argues that Marshall's theory of market choice was originally elaborated within the classic framework of the use value/exchangeable value dichotomy, with reference to a version of utilitarianism that did not assume measurable utility. The key concepts were those of marginal...

...Ivan Moscati The article studies the origin, content, and impact of two experiments to measure the utility of money, one by Frederick Mosteller and Philip Nogee in 1948–49 and one by Donald Davidson, Patrick Suppes, and Sidney Siegel in 1954. Both experiments relied on expected utility theory (EUT...

...Jean-Sébastien Lenfant The development of ordinalism was fostered by the idea of dispensing with external psychological arguments in utility theory and building the whole theory of the consumer upon indifference curves (and maps). Yet the pioneers of ordinalism, Fisher and Pareto, did not make...

... be criticized for these contradictions because they intended to explain the behavior of their isolated individuals, whereas modern neoclassicals only seek to describe the decisions of Robinson Crusoe in terms of modern choice theory. This contrast mirrors the change in the way utility theory is conceived...

... curve and could have been copied straight from utility theory. Correspondence may be addressed to Peter Lloyd, Department of Economics, University of Melbourne, Parkville, Vic. 31010, Australia; e-mail: [email protected] . I wish to acknowledge the many helpful comments and suggestions...

... Utility with Revealed Preference: Experimental Arguments Based on Prospect Theory. ” Journal of Econometrics 138 ( 1 ): 356 – 78 . Alt Franz . 1936 . “ Über die Messbarkeit des Nutzens. ” Zeitschrift für Nationalökonomie 7 : 161 – 69 . ———. 1937 . “ On the Measurability of Utility...

... of utility. Contemporary critics of rational choice theory take this naturalized image of the economic agent as its bogeyman, ignoring the social infrastructure that brought this agent, thinking as a merchant, into existence. The idea that we calculate captures a sociohistorical reality, rather than...

... McDougall, William James, Thorstein Veblen, and Rexford Tugwell. Vigorous controversies took place over instinct theory, marginal utility, and behaviorism. Attention to the confluence of the two disciplines was stimulated by concerns over human relations during World War I, the success of propaganda...

... instruments. Nothing has illustrated this fact more than the treatment of utility theory within and beyond microeconomic theory. Critics write off utility theory with off-hand remarks about interpersonal comparisons and non-additive units, while economists suppose that revealed prefer- ence avoids...

... of Demand Theory . Oxford: Clarendon. Hicks , John , and R. G. D. Allen. 1934 . A Reconsideration of the Theory of Value. Economica 1 ( February ): 52 -76 and 1 (May): 196–219. Houthakker , Hendrik . 1950 . Revealed Preference and the Utility Function. Economica 17 ( May ): 159 -74...

... . Economica , n.s. , 1 : 52-76, 196-219 . Houthakker Hendrik S. 1950 . “ Revealed Preference and the Utility Function .” Economica , n.s. , 17 : 159 – 74 . ———. 1983 . “ On Consumption Theory .” In Paul Samuelson and Modern Economic Theory , edited by Brown E. C. Solow R. M...

... evaluate bets by taking into account the average of the utilities of the monetary payoffs of the bets. This hypothesis was later called expected utility theory. Second, Bernoulli assumed that the marginal utility of money is diminishing. Szpiro labels this latter assumption as nothing less than the basic...